THIS IS NOT FINANCIAL ADVICE, PLEASE DO YOUR OWN RESEARCH
Why are we so rich yet so poor? We as black people have reached a spending power of $1.4 trillion, this was in 2019. so the question is how are we so rich yet so poor, we claim there is no diversity, no equal pay, yet the Richest group of black people on the face of this earth are black people from America. Even though the richest black man today is from Africa. What is the problem? Some say we don’t retain wealth like we should that everything we make, we just turn right back around and spend it .. is this true? One of the problems is that, although our spending power has doubled or more than doubled I should say we still own fewer assets. Most black people are doing regular assets and have little to no assets. Another question is what kind of spending habits do we have since we don’t retain any of the wealth ? can we use our spending power to create capital???
It may interest people to know that the Blacks in America have more spending power than the entire GDP of these countries
- Netherlands = $907.05 Billion
- Saudi Arabia = $792.97 Billion
- Switzerland = $703.08 Billion
- Thailand = $543.55 Billion
- Poland = $595.86 Billion
Just to let everyone know there is no course in business school titled, “how to be a millionaire” As black people we need to take financial education seriously, otherwise, money will just pass through our hands
“Unless you are able to have influence over assets and business and enterprises then you are not really participating in a lot of what the American economy is “ – Robert F Smith
